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Canopy Growth Corporation (NYSE:CGC) is one of the leaders in the marijuana stock market over the past year. The size of the company, however, has not been able to counteract high volatility. Volatility with the company is not anything new by any means but it is something to watch out for.

The company also recently announced their sales and gross margins which were somewhat disappointing. This is in addition to an equally slow amount of growth in their edible sector of the marijuana stock market. The hopes are that they can begin to show some profits into the coming year.

Can these Results Switch Up?

The revenue growth that they have seen in the past few months has primarily come from the sales of cannabis. These sales, which are both recreational and medicinal seem to be the bread and butter of the company. Canopy Growth Corp. did see their gross margins shoot down by around 16%.

Although many were excited by the potential of future prospects for Canopy Growth in the marijuana stock market, the company has not seen much growth in recent months. This is due partly to the high competition in the industry, but also in part to the capital they have used to build out their business.

The company has stated that one of their main focuses now is moving into the edible market. This, however, is something that is not nearly as easy as they make it seem. There are a lot of inherent risks with this side of the industry. Edibles, however, have proven to be quite successful. The goal is to have the edible products available online in the near future. This would hopefully bring in a larger amount of revenue to the company.

Is Profitability on the Horizon?

The coming year should be quite exciting for Canopy Growth as they move deeper into the pot stock market. The goal is for them to see a large or even increased amount of profitability in the short term. With October 17th bringing a lot of hopes with it in the legal Canadian cannabis market, some companies have simply disappointed since that time.

The company has continued to put itself amongst the largest in the industry, which is quite a promising prospect. Only time will tell how much success they can continue to see as they move deeper into the future of the cannabis stock industry.

Today, Canopy Growth Corporation (“Canopy Growth” or the “Company”) (WEED.TO) (CGC) and Bruce Linton announced that Bruce will step down as co-CEO and Canopy Board member. Mark Zekulin has agreed to become the sole CEO of the company and will work with the Board to begin a search to identify a new leader to guide the company in its next phase of growth, which will include both internal and external candidates. Rade Kovacevic, a long-serving member of the team currently leading all Canadian operations and recreational strategy will assume the role of President. These changes are effective immediately.

“Creating Canopy Growth began with an abandoned chocolate factory and a vision,” said Linton. “The Board decided today, and I agreed, my turn is over. Mark has been my partner since this Company began and has played an integral role in Canopy’s success. While change is never easy, I have full confidence in the team at Canopy – from Mark and Rade’s leadership to the full suite of leadership – as we progress through this transition and into the future.”

“We thank Bruce and Mark for establishing the foundation for a company that is very well-positioned to lead in the emerging global cannabis market,” said Canopy Growth board director, David Klein . “We are also excited to embark upon our next phase of growth as global leader in the cannabis industry.”

Canopy Growth has experienced rapid growth since being founded in 2013, establishing leading positions in Canada’s medical and recreational cannabis markets and building an emerging presence in a number of additional markets around the world. The company recently received a $5 billion (CAD) investment from Constellation Brands, a leading beverage alcohol company, which provides a significant benefit as Canopy continues to establish a first-mover advantage in the quickly evolving global cannabis market.

“While Canopy will never be the same without Bruce, the team and I look forward to continuing to do what we have done for the past 6 years: investing in world class people, infrastructure and brands, and always seeking to lead through credibility and vision,” said Zekulin. “I personally remain committed to a successful transition over the coming year as we begin a process to identify new leadership that will drive our collective vision forward. I know the company will continue to thrive as the Canopy story continues on for years to come.”

The Board has also appointed John Bell as its Board Chair, to be reviewed at the Board’s annual meeting in September when new board members are elected. Bell has served on the board as lead director for 5 years.

About Canopy Growth Corporation
Canopy Growth (TSX:WEED, NYSE:CGC) is a world-leading diversified cannabis, hemp and cannabis device company, offering distinct brands and curated cannabis varieties in dried, oil and Softgel capsule forms, as well as medical devices through Canopy Growth’s subsidiary, Storz & Bickel GMbH & Co. KG. From product and process innovation to market execution, Canopy Growth is driven by a passion for leadership and a commitment to building a world-class cannabis company one product, site and country at a time. Canopy Growth has operations in over a dozen countries across five continents.